Islamic banks in the Middle East require mandoob services to verify and hand over assets being financed under Murabaha transactions. The timeliness and accuracy of mandoob reports play a pivotal role in ensuring that asset financing applications are processed efficiently and effectively.
Mandoob services are crucial for a bank to ensure seamless operations and customer satisfaction. These services involve managing administrative tasks such as document collection, delivery, and processing on behalf of banks. By delegating these tasks to experienced professionals, banks can streamline their operations, reduce the likelihood of errors, and ultimately provide a more efficient service to their customers. Mandoob services are beneficial for banks with a large customer base and high transaction volume, where the demands of administrative work can quickly become overwhelming.
The importance of mandoob services for banks cannot be understated. They help alleviate the administrative burden on bank staff, allowing them to focus on core banking tasks and improving customer service. Moreover, Mandoob services enable banks to handle complex regulatory compliance requirements more efficiently, as these providers are well-versed in the relevant rules and regulations.
At ValuStrat, our team of field due diligence consultants provide iPad-based mandoob services, ensuring the accuracy and reliability of data and mitigating the risk of fraud. Our mandoob services team delivers by understanding client needs, allocating tasks, ensuring compliance, executing tasks, conducting quality assurance, communicating with clients, delivering results, and seeking feedback for improvement. Our proprietary processes and technology platform has enabled us to reduce the average turnaround time (TAT) for this service to 3 hours compared to the industry practice of 48-72 hours, enhancing quality control and widening geographic reach. As a result, financial institutions can process their clients' Murabaha applications faster and better utilise the time of their sales staff, resulting in significant enhancement of overall efficiency.
With our reports, clients can expect the following:
- Smart forms and bespoke reports
- Data analytics
- High quality report
- Dedicated call centre
- Unmatched quality control
- Very quick geographic reach through real time GPS monitoring of surveyors' location
- LTE (4G) connectivity for quick data transfer
- Signature capture on iPad
- System controlled time and location stamp
- Hi-res pictures
- Cloud computing for data storage and implementing changes